AUDJPY 4hr chart and this is the second time in this 6 or 7 week uptrend that I have seen a clear pennant formation appear just like this. The prior one resolved to the upside with a +0.5% move. The probability is clear that any move out of this will be up. Last week has been dealing with 80 yen, the 200 day sma and a major descending trend line (best seen on weekly). The reaction from the piercing the 200 on Wednesday was a down day (as would be expected) but only 3 pips.
Bandana Friday, page-16
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Last
7,921.3 |
Change
60.100(0.76%) |
Mkt cap ! n/a | |||
| Open | High | Low |
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| XJO (ASX) Chart |